Stainless MMI®: Cash Price of Primary Indian Nickel Falls 5.0% for Week

by on
Style:
Category:
Metal Prices
The biggest mover this week was the cash price of primary Indian nickel with a 5.0 percent fall on the weekly Stainless MMI® to close the week at INR 846.00 ($13.64) per kilogram. On the LME, the 3-month price of nickel declined 4.0 percent to $13,420 per metric ton. The spot price of nickel fell 3.9 percent on the LME over the past week, settling at $13,360 per metric ton.

Chinese stainless steel prices were mixed for the week. Following a steady week, prices for Chinese ferro-chrome closed flat at CNY 8,300 ($1,371) per metric ton. Prices for Chinese ferro-moly remained constant, closing the week at CNY 145,000 ($23,952) per metric ton.

The price of Chinese primary nickel closed last week at CNY 93,700 ($15,478) per metric ton, after a 2.1 percent drop. Chinese 304 stainless steel scrap remained essentially flat from the previous week at CNY 16,400 ($2,709) per metric ton. Closing at CNY 16,100 ($2,660) per metric ton, Chinese 316 stainless steel scrap remained unchanged for the week. At CNY 16,400 ($2,709) per metric ton, the price of Chinese 304 stainless coil did not change since the previous week. At CNY 26,000 ($4,295) per metric ton, the week finished with no movement for Chinese 316 stainless coil.

Korean 430 stainless steel coil traded sideways last week, hovering around KRW 2.6 million ($2,376) per metric ton. At KRW 4.2 million ($3,881) per metric ton, the week finished with no movement for Korean 304 stainless coil.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

{Comments Off on Stainless MMI®: Cash Price of Primary Indian Nickel Falls 5.0% for Week Comments Off on Stainless MMI®: Cash Price of Primary Indian Nickel Falls 5.0% for Week}